Shareholders of Dangote Cement Lose Over N200billion in Four Days
- Over N200 billion was lost in four days after investors undervalued the company's stock
- Dangote Cement market capitalisation declined from N3.7 trillion of Monday's opening to N3.5 trillion on Thursday
- Investors have low appetite for Dangote Cement stocks, so shareholders have been selling at a loss
It has been a bloody week for Dangote Cement shareholders, as their investment in the manufacturer dwindled in four days. The shareholders lost over N200 billion between Monday to Thursday this week.
The loss had occurred amid low pricing of the company's stock by investors, and low participation in Dangote Cement's shares - due to.this, the company has not been part of the top traded shares.
Source: Getty Images
This crashed the market valuation of the manufacturer to N3.5 trillion as at Thursday, from the N3.7 trillion it opened the capital market with this week. This represent a decline of 5.40 percent, and translate into a loss of over N200 billion.
Investors had been pricing down Dangote Cement stock since on Tuesday after it traded flat for four days straight, between May 11, 2021 and May 18, 2021. The next day, it dropped by N1.
The stock price depreciated further to N4 to drag the share price to N210 per share on Thursday, from N215 per share. The price fell as volume of shares traded during this period fell from 417.,08 million to 193.07 million shares traded.
Meanwhile, Legit.ng had earlier reported that Nigerian tech startup, BFREE conducted a fundraising that got the company N325.99 million. Three investors participated in the fundraising.
The startup operate a business that helps debtors repay their debt easily and clear their bad debt by utilising its financial experience and deploying mechanisms.
Source: Legit.ng
